The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - For awards made between 2014 and 2020, the recapture rate is almost 55  percent. This indicates that around half of the net job increases and investments promised in negotiated agreements ultimately never come to fruition or are not maintained long term.
https://lao.ca.gov/Publications/Report/5162

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - Proposition  2 (2014) requires the state to spend a specified amount of money (determined through a budgetary formula) each year towards eligible liabilities. It has been state policy to satisfy this requirement through the state ’s General Fund contributions to prefund retiree health benefits and annual supplemental pension payments to the California Public Employees Retirement System (CalPERS).
https://lao.ca.gov/Publications/Report/5081/

Effect of Returning to Historical Estimated Tax Payment Schedule

Feb 27, 2023 - The revenue shift also would have minor effects on Proposition  2 (2014) reserve requirements. Administrative Costs. The Franchise Tax Board estimates that returning estimated payments to four equal payments would result in one-time administrative costs of $151,000 in 2023 ‑24.
https://lao.ca.gov/Publications/Report/4722

The 2023-24 Budget: Multiyear Budget Outlook

May 23, 2023 - These formulas include spending on schools and community colleges (under Proposition  98 [1988]), as well as debt payments and reserve deposits (under the rules of Proposition  2  [2014]). If the Legislature adopts the administration ’s revenue estimates —and does not solve the additional budget problem we identify above —we anticipate there will be a revenue shortfall in 2023 ‑24.
https://lao.ca.gov/Publications/Report/4772

Evaluation of a Tax Exemption for Zero-Emission Buses

Apr 15, 2024 - Transit ridership in California declined gradually from 2014 to 2019. Ridership fell by more than 50  percent when the pandemic began in 2020. Due to the pandemic-related disruptions, transit agencies projected significant declines in both fare revenues and other state and local funds dedicated to transit.
https://lao.ca.gov/Publications/Report/4890

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - GO ‑Biz has awarded $1. 2  b illion in credits since 2014. Of this amount, after accounting for the five ‑year structure of the tax credit agreements and the credit recaptures, we estimate that business have earned roughly $ 500  m illion in California Competes tax credits.
https://lao.ca.gov/Publications/Report/4327